Press Releases
September
11, 2001 |
Council for
Entrepreneurial Development |
CED Announces Five New Endowment Commitments from North Carolina Entrepreneurs and Investors
September 11, 2001, Research Triangle Park, NC - The Council for Entrepreneurial Development (CED) is proud to announce the addition of five new commitments to its Entrepreneurial Stock Endowment Campaign. The endowment fund, established in spring of 1999, has surpassed 100 total pledges from local leaders in the information technology and biotechnology communities.
The recent commitments from high-growth entrepreneurs in the greater Research Triangle area include Greg Bohlen, BioSignia, Inc.; Lori Eichel, BlueBolt Networks, Inc.; Brian Gullette, Plurimus Corporation; Amy Stapleton, ClearReason, Inc.; and Peter Young, AlphaVax.
This unique initiative allows entrepreneurs and early stage companies to pledge illiquid stock to CED's endowment fund. Since early stage companies often operate under considerable cash restraints, the pledge of early stage stock permits the entrepreneur to participate in giving back to CED with something of great value--a pledge of support from their personal shares of the company that they are growing.
"The decision to give back to CED through a donation of Founders Stock is an expression of my gratitude for this remarkable resource," said Lori Eichel, executive vice-president and founder, BlueBolt Networks, Inc. "Starting with my initial training in CED's FastTrac Tech class and continuing with my on-going involvement in the many venture shows and programs, I have personally broadened my entrepreneurial business knowledge and have been exposed to a wide network of invaluable contacts and opportunities that have greatly benefited our company."
Just prior to an IPO or sale, the entrepreneur transfers the pledged stock to CED. The stock will then be liquidated immediately and deposited into an endowment fund to benefit CED's continuing efforts.
Donors receive tax write-offs for the fully appreciated value of the transferred stock, making it a win-win situation for the entrepreneur, for CED, and for the future of entrepreneurship in the Triangle area.
About CED
The Council for Entrepreneurial Development, located at the CED Entrepreneurship
Center in Research Triangle Park, N.C., was formed in 1984 to stimulate the
creation and growth of high-impact companies in the greater Research Triangle
region. CED provides education, mentoring and capital formation resources to
new and existing high-growth entrepreneurs through annual conferences, seminars,
workshops and monthly programs on entrepreneurial management and finance. CED
is the largest entrepreneurial support organization in the nation with more
than 5,000 members representing 1,300 entrepreneurial companies, financiers
and professional firms.
CED encourages all entrepreneurs who are interested in learning more about this effort, to contact Tim Tompkins at CED (919) 549-7500 ext. 103.
For membership information, call (919) 549-7500 or visit CED's Web site at www.cednc.org.